One of the most frequently asked questions is what will the lender need from me when I apply for a loan?
The most common type of loan is “Full Documentation”
For this type of loan the lender will require that you provide them
- 2 years of W-2′s
- Your last 2 pay stubs (they may request more)
- 2-3 Months of Bank statements
- 6 months of 401k or IRA statements
They will usually request this documentation after they have pulled your credit report as part of the loan application process. Getting these documents ready before you get started can really help reduce the stress of the loan application process. It always feels great to be prepared!